Some of the publication’s interlocutors explain the cooling to the cryptocurrency industry by the high degree of legal costs that may follow in the future if the advertised company goes bankrupt or its asset becomes illiquid.
Crypto-blogger Tiffany Fong said she is not interested in supporting any cryptocurrency projects on social media at the moment:
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“Because so many once reputable companies have failed, I don’t want to promote anything that could potentially alienate customers. At this point, the risks far outweigh the rewards.
DeFi Dad, who has over 150,000 followers on Twitter and 32,000 on YouTube, is of the same opinion:
“I was once offered the opportunity to publish sponsored content from the FTX exchange. I have no idea how much money I gave up when I decided not to work with FTX, but in the long run it was the right decision.
Rasmus Rasmussen, director of marketing for Polygon NFT Planet IX, admits that cryptozyma and fears from influential people have made it difficult to find candidates for cryptoproject advertising:
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“Many social media influencers are thinking about the implications of who and how they offer cryptocurrency products.”
Earlier, former SEC official John Reed Stark warned
cryptocurrency Influencers that they would inevitably face trial for promoting fraudulent projects.